Founder Who Lost $3.9M Reveals The Hard Truth About Money And Freedom
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Yele Bademosi is a founder, investor, and creative thinker at the intersection of culture, capital, and clarity. He’s the Co-creator and CEO of Onboard. He reveals the untold truth behind losing $3.9 million overnight in the FTX collapse and how that moment transformed his relationship with money, purpose, and freedom. A former medical student turned tech founder and investor, Yele has built some of Africa’s most influential startups, including Bundle (incubated within Binance). But after reaching the height of startup success, everything came crashing down. In this deeply personal conversation, Yele shares lessons on resilience, rebuilding from zero, and why he believes private credit, not crypto, is Africa’s biggest untapped opportunity. He also discusses the future of the creator economy, the importance of financial sovereignty, and how Africa’s next billion-dollar companies will be built by creators, not corporations. He explains: - Why he walked away from medicine to pursue freedom - How losing everything in FTX changed his definition of wealth - The truth about Africa’s credit gap and economic opportunity - What “potential capital” really means and how to find yours - Why creators are Africa’s next economic revolution Key Themes The Future of Credit in Africa Surviving the FTX Collapse Rebuilding Purpose & Identity The Creator Economy as Africa’s Next Wave Financial Freedom, Integrity & the Pursuit of Happiness 🔗 Follow Yele X (Twitter) – @YeleBademosi LinkedIn – Yele Bademosi OnboardGlobal – https://www.linkedin.com/company/onboardbynestcoin/ Follow Afropolitan Website – https://afropolitan.io Instagram – @afropolitan X (Twitter) – @afropolitan LinkedIn: https://www.linkedin.com/company/afropolitannation/ This episode is sponsored by Inverroche Gin, South Africa’s premium craft gin that fuses heritage botanicals with innovation. Discover more: https://www.inverroche Want to connect 1:1 with Africa's boldest thinkers? Book a 15-minute convo on Convo: https://convo.vip/ Book 1:1 with Eche - https://convo.vip/echeemole Book 1:1 with Chika - https://convo.vip/chikauwazie Listen to more Afropolitan Podcast episodes: YouTube: https://www.youtube.com/@Afropolitan Spotify: https://open.spotify.com/show/6YwRlkSOq8e35xU6bOp9pU?si=b3a132f9afb3459f&nd=1&dlsi=32c01e3224ac4c64 Apple: https://podcasts.apple.com/us/podcast/afropolitan/id1808954585 Hosted by Eche — https://www.linkedin.com/in/eemole/ Chika — https://www.linkedin.com/in/chikauwazie/ Stay connected with Afropolitan: Twitter: https://x.com/afropolitan Instagram: https://www.instagram.com/afropolitanpodcast LinkedIn: https://www.linkedin.com/company/afropolitannation/ Website: https://www.afropolitan.io 🔗 Join our community for exclusive updates: afropolitan.io/community Get email updates: https://www.afropolitan.io/newsletter 00:00 - The Biggest Opportunity in Africa: Private Credit 01:09 - Introduction: What's the Biggest Opportunity in Africa? 03:12 - Why Credit is Africa's Missing Infrastructure 05:06 - South Africa's Credit System vs Rest of Africa 06:28 - Who Was Yele Before Bundle & Nestcoin? 07:55 - Growing Up in Ibadan: Early Entrepreneurial Roots 10:20 - Moving to UK at 14: The Internet Opens New Worlds 12:18 - The Medical School Journey & Father's Blessing 14:12 - "Opting Out" of Medical School 16:55 - Writing the Letter to Mom: Pursuit of Freedom 18:37 - Afropolitan Toast: To African Creativity & Legacy 20:25 - Life Lessons from Parents: Excellence & Integrity 22:24 - Losing Dad: The Impact 15 Years Later 26:04 - Five Types of Wealth: Transforming Priorities 28:05 - Moving to London: Being Closer to Family 30:13 - Financial Sovereignty & Why Crypto Matters 32:38 - Building Digital Infrastructure for Africa 35:02 - The Bundle Story: Right Place, Right Time 38:15 - Leaving Binance to Build Nestcoin 40:22 - Raising the Largest African Crypto Seed Round 44:58 - The FTX Collapse: November 11, 2022 48:51 - Surviving the Crisis: Resilience & Recovery 52:13 - 18 Months of Uncertainty: Getting 95% Back 56:43 - Learning to Forgive Yourself 58:27 - Personal Funds Lost in FTX 01:01:32 - Redefining Wealth: Potential Capital 01:06:34 - Afropolitan's Journey: The Million Dollar Prophecy 01:09:28 - Why Afropolitan Will Succeed: Culture Connectors 01:16:51 - The Creator Economy Thesis: Distribution is Queen 01:19:19 - From BET for Africa to Creator Infrastructure 01:23:29 - The Cost of Creation is Dropping: Distribution Wins 01:27:47 - Leading Through Pivots: Vision Evolution 01:32:09 - African Creators to Watch 01:36:05 - Three Systems Creators Need: Banking, Credit, Management 01:40:06 - Onboard: Freedom to Transact Globally 01:42:26 - Stablecoins: The New Financial Infrastructure 01:46:53 - Rapid Fire: Lagos vs London 01:48:28 - Favorite Nigerian Food: Ofada Rice at Mega Chicken 01:51:51 - Who Should Be on Afropolitan Podcast
